Today, Thursday, the crypto market is once again showing its friendly side. The market capitalization of digital currencies rose nearly 5% in the past 24 hours. At the same time, ETH performs significantly better than the market average. Because in the last 24 hours the price exploded by more than 6.5%. In this way an important resistance was overcome. Now ETH could soon mark a new all-time high. Is it time to invest in ETH now?
Significant price increase on Thursday
The new Ethereum price rally began yesterday afternoon. Since last night, ETH has been trading close to the US $ 3800 mark. On the last day alone, there was a price increase of well over 6%. The ETH price has been moving sideways for the most part since midnight and is stable. The important resistance at around 3500 US dollars thus seems to have been overcome in the long term. The strong gains following the breakthrough are evidence of a new buy signal. While the most valuable crypto currency Bitcoin is currently still struggling with the USD 50,000 mark to also start a new rally, Ethereum is already looking much more positive.
Breakout successful, record high firmly in view
After the breakout is before the record high. It could be something similar with Ethereum. Because the key resistance at $ 3,500 was a crucial hurdle on the way to the highs from spring 2021. The positive momentum could now cause a rally that leads to the all-time high above $ 4,350. Invested investors can sit back and relax and watch the next few weeks. Because now things should continue to improve at ETH with the positive momentum behind them.
Buy Ethereum now?
Investor sentiment could hardly be better for Ethereum. ETH continues to be one of the absolute basic investments for crypto fans. In addition, there is now the promising chart technical starting length, which was provided with new price potential by overcoming the resistance. While there have been many skeptical voices over the past few months regarding new highs this year, the mood is again becoming more optimistic. It now seems quite possible that we will see new record highs at ETH in the next few weeks.
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